New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-11-15
DE LESSEPS'S FORLORN HOPE.
GLOOMY OUTLOOK KFOsrHEPANAMAC CANAL.
OVER $G00OO0. 900 NEEDED TO COMPLETE TIE
GIGANTIC WORK.

OVER $G0O,OO0.O0O NEEDED TO COMPLETE TIE
GIGANTIC WORK.
PANAMA, Nov. G.-SoHOr Tanco Armero. agent o. the
Colombian Government, has recently completed his
port on the Panama Canal. seuor Armero says
The annual reports presented By Count &c Lcssops
the shareholders TIE only official and reliable Gocu-
ments within the reach o the pahc. bat whether be
from the terms in which these cOuchel
the fact that hcy Intended to.npre the shareholders
with greater confidence m the canal they are partial in
character, aud not precise would de
sire Neither, in my opinion, do they furnish
idea of the situation On tho other hand the writings Of
the pe.suisi d-ractOrs Of the undertaking are
agcorated III sense anl worthy OF credit
whatever
1he number OF cubic metres to be excavacd in order
Open the canal IGl 900 900. and tie alnouut
taken cat up to the end OF August OF the rrecat year
was So 81. 5,25O cubic metres according the figures oi
The company there yet remain l27o7l77O cubic metres
be removed As up TO date the sum expended is
sis o32 800 flames II s evident that the cost per metre
nearly - q, work has been cNortliInt The expense
of WORK per metre has diminished rs tho work has
progressed aud only when it shall have been
completed shall lie able 10 determine
tho medium cost of al lac excavations
At the Cuebra scciio hills 339 feet above the level
hal 10 be pierce l. and here the quantity of rock and
earth he removed assume gigantic proportions.
Ihe works the Chagres River, in order to turn IT,
which have scarcely been begun. Will &c the most ini
cult and costly Of all Ihs dam hero viii b. LOO
tres IN length. i3J IN width AID - III Ae .At Behind 1t
there N sc 0J0,ol0 cable metres oi water banEcd up
Tie hills on which the ank' o, this .isanic dam viii
be tuamsei ant tlroI IN these tunuels Will hoT 10
other Uat.r,r tho waters which Otherwise would fol-
low The OF canal and taey Will Ind their way
10 the sea points many miles 81, their
outlet cu ineer mas iufOTuei tnt tie cost Of
thus Controlling Tie wafer, OF tn; cAasrcs viii
amount to SyI5i1.OOO o. l7I.7oOO0j francs
The ordinary price when aIs beca paG ior every cubic
metre which has hs,n excavatei has been 81 80. bat TO
this sam mus, be added the cxpsn, o. management.
Which b.n the hugc H.. 10 - nj cs, por cuuic metre.
And tins la, pad for the easT par, o. the work,
whilsi ,ha, which i, lpckns, l1fO7L L77) cubic msre
more OF less, Will doIbie ts figure, consequently
there mus; yet bc cxscnIci the enJrin)us sum Of
:5os 2990-O 2.5I1t95.f0O francs, Add this 10 The
cot Of the Canooa dan that Is 10 say, Il OO0 900
france ard OBTAIN Total OF 3'l3tHJ, 100 fr-ncs.
IN. i tle atunun OF COLI which is SIN rc rc1 before
upon the company must laj for lhcrcs. Oh tho
cnIfr alrr.y loaucI anl general cxpca,e. and saic
If Inc wor@ cOlciudcd ~lta The brx six or ri.nt
years viii easily amount 10 ahoLcr thousand mIon OF
francs
work, bnt that with the machinery tie total amount OF
work effected Is equivalent TO that OF CDOO1O mcn
men eipley and the work effected confirms THIS be
lief The truth j. that the greater numbcr the work
ing sections almost ,ctod and tho labUier-
tie works are very icw ~ The number wAeh should be
employed
Inc situation o. the canal at this dat" September l. Is
as follows: Ihe company mas a.Ic"dy cNIsnitd
-ls.O32 800 francs And II must be remembered that
the expenses OF management, Interest etc, amount ah-
nuay To l0JOOoOuoo u. francs, which sum 81 continue
augment that additional interest must b; PAD on
the loans ana, We havs alrc 'dy proved, three
thousand millions OF raurs mere a'c required 10 meet
the OF excavation construction, stc Thus We
obtain less money, even should II offer higher interest.
and IL Is absolutely certain mat II Will be difficult to OBJ
larly 20 since The financial situation OF the company
serious, is involved and Is alarming.